Compel takes £400K restructuring charge

Gloomy trading statement

Compel, the mid-range computer dealer/rental firm, is to take a £400,000 charge for bringing expenses into line with business levels and prospects. The company says it "remains sound and strongly funded" and insists that costs are "largely" under control, but it is gloomy about trading.

In an AGM statement released today, chairman Sir Michael Bett, said "Since announcing full year results in September we have not seen any signs of
an improvement in the trading environment for our businesses. If anything, customer confidence has deteriorated further, as evidenced by lengthened
decision cycles and extended project deferrals." ®